##
||||||Page|
|---|---|---|---|---|---|
|The Association
and its||officers, professional|advisers|and bankers||
|Report ofCouncil||||||
|Independent|auditors'
report||||8-11|
|Consolidated|statement|offinancial activities|||12|
|Consolidated|balance sheet||||13|
|Company
balance sheet|||||14|
|Consolidated|statement|ofcash flows|||15|
|Notes to the|financial statements||||16-30|
##
|President||||T L Hammett||||||
|---|---|---|---|---|---|---|---|---|---|
|President|Elect|||The Hon John Rous||||||
|Chairman|ofCouncil|||Mrs M E Quicke|MBE DL FRAgS (resigned||||11April 2022)|
|||||A J Gray (appointed||11April 2022)||||
|Vice Chairman|||of|STR Stevens||||||
|Council||||||||||
|Honorary|Treasurer|||Sir Henry Studholme|||Bt DL FCA CTA|||
|Honorary|Show||Director|STR Stevens||||||
|Chairman|of|Board of||J AT Lee OBE|DL FRAgS|||||
|Management||||||||||
|Association||Secretary||R L Maunder
ARAgS|||(resigned|31 January|2022)|
|||||CJ Skelton (appointed|||31 January 2022)|||
|Board of|Management|||JA T Lee OBE|DL FRAgS - Chairman|||||
|Elected Members||||Mrs D Custance|Baker|||||
|||||M H Retallick||||||
|||||N Lindsay-Fynn|MA|Oxon||||
|||||A Gray (resigned|11|April 2022)||||
|ExOfficio||||Mrs M E Quicke|MBE||DL FRAgS (resigned||11April 2022)|
|||||STR Stevens||||||
|||||Sir Henry Studholme||Bt DL FCA||CTA||
|||||A J Gray (appointed||11April 2022)||||
|Company|registered|||||||||
|number||||01927330||||||
|Charity registered||||||||||
|number||||292897||||||
|Registered|office|||Westpoint||||||
|||||Clyst St Mary||||||
|||||Exeter||||||
|||||EX5 1DJ||||||
|Auditors||||Bishop Fleming
LLP||||||
|||||Chartered
Accountants||||||
|||||Statutory Auditors||||||
|||||2nd Floor Stratus|House|||||
|||||Emperor Way||||||
|||||Exeter Business|Park|||||
|||||Exeter||||||
|||||EX1 3QS||||||
|Bankers||||NatWest Bank Pic||||||
|||||59 High Street||||||
|||||Exeter||||||
|||||EX4 3DL||||||
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||||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
|||||Note|2022|2022
f.|2022f|2021
F|
|INCOME FROM:|||||||||
|Donations
and grants|||||3,700||3,700|108,875|
|Charitable
activities|including||County||||||
|Show||||||1,269,090|1,269,090|1,137,923|
|Other trading
activities
Westpoint
income||including||10||886,431|886,431|709,230|
|Investments||||3||116,008|116,008|91,013|
|TOTAL INCOME|||||3,700|2,271,529|2,275,229|2,047,041|
|EXPENDITURE ON:|||||||||
|Raising funds||||||316,624|316,624|280,976|
|Charitable
activities|including||County||||||
|Show||||6|3,133|1,694,166|1,697,299|1,475,349|
|TOTAL EXPENDITURE|||||3,133|2,010,790|2„013,923|1,756,325|
|NET MOVEMENT|IN FUNDS||||567|260,739|261,306|290,716|
|RECONCILIATION|OF|FUNDS:|||||||
|Total funds brought|forward||||11,613|3,044,332|3,055,945|2,765,229|
|Net movement
in funds|||||567|260,739|261,306|290,716|
|TOTAL FUNDS CARRIED FORWARD|||||12,180|3,305,071|3,317,251|3,055,945|
##
##
|||||2022||2021|
|---|---|---|---|---|---|---|
|||Note||E||F|
|FIXEDASSETS|||||||
|Tangible assets||||3,144,921||3,252,011|
|||||3,144,921||3,252,011|
|CURRENT ASSETS|||||||
|Debtors|||215,006||204,105||
|Cash at bank and|in hand||1,027,327||854,390||
||||1,242,333||1,058,495||
|Creditors: amounts|falling due within one||||||
|year||12|(460,977)||(497,220)||
|NET CURRENT ASSETS I (LIABILITES)||||781,356||561,275|
|TOTAL ASSETS LESSCURRENT|||||||
|LIABILITIES||||3,926,277||3,813,286|
|Creditors: amounts|falling due after more||||||
|than one year||13||(609,026)||(757,341)|
|TOTAL NET ASSETS||||3,317,251||3,055,945|
|CHARITY FUNDS|||||||
|Restricted funds||14||12,180||11,613|
|Unrestricted
funds||14||3,305,071||3,044,332|
|TOTAL FUNDS||||3,317,251||3,055,945|
##
|||||2022||2021|
|---|---|---|---|---|---|---|
|||Note|||||
|FIXEDASSETS|||||||
|Tangible assets||||3,144,921||3,252,011|
|Investments
in subsidiary||||2||2|
|||||3,144,923||3,252,013|
|CURRENT ASSETS|||||||
|Debtors|||107,295||101,712||
|Cash at bank and|in hand||1,027,042||854,390||
||||1,134,337||956,102||
|Creditors: amounts|falling due within one||||||
|year||12|(591,136)||(554,197)||
|NET CURRENT ASSETS I (LIABILITES)||||543,201||401,905|
|TOTAL ASSETS|LESS CURRENT||||||
|LIABILITIES||||3,688,124||3,653,918|
|Creditors: amounts|falling due after more||||||
|than one year||13||(609,026)||(757,341)|
|NET ASSETS||||3,079,098||2,896,577|
|CHARITY FUNDS|||||||
|Restricted
funds||14||12,180||11,613|
|Unrestricted
funds||14||3,066,918||2,884,964|
|TOTAL FUNDS||||3,079,098||2,896,577|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||E||
|Cash flows from operating||activities|||||
|Net cash generated
by operating
activities (see note 16)|||||404,905|337,321|
|Cash flows from investing||activities|||||
|Purchase oftangible
fixed assets|||||(94,766)|(68,335)|
|Net cash used
in investing||activities|||(94,766)|(68,335)|
|Cash flows from financing||activities|||||
|Cash inflows from new borrowing||||||500,000|
|Repayments
of borrowing|||||(137,202)|(53,753)|
|Net cash used in financing||activities|||(137,202)|446,247|
|Change
in cash and cash|equivalents||in the year||172,937|715,233|
|Cash and cash equivalents|brought
forward||||854,390|139,157|
|Cash and cash equivalents||carried forward|||1,027,327|854,390|
|The notes on pages 16to 30||form part ofthese financial||statements|||
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|||2022|2021|
|---|---|---|---|
|||F|E|
|WESTPOINT TRADING|INCOME|||
|Income||886,431|709,230|
|WESTPOINT TRADING|EXPENSES|||
|Expenditure||654,374|559,961|
|Net income from trading|activities - Westpoint|232,057|149,269|
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2021|
|||E|E|F|
|Rental|income|116,008|116,008|91,013|
|TOTAL|2021|91,013|91,013||
##
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##
|INCOME TY|PE|BYCHARI|TABLE ACTIVITY|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E||
|The Devon County Show||||||
|Entry fees||||46,770|67,314|
|Show admission||and ticketing||505,171|538,044|
|Trade stands|and|tendered|contracts|444,477|364,161|
|Sponsorship|and|donations||108,336|91,915|
|Other show income||||39,795|3,956|
|||||1,144,549|1,065,390|
|Other income||||||
|Membership|income|||48,716|41,911|
|Agrifest||||29,210||
|Other income||||46,615|30,625|
|||||124,541|72,536|
##
##
|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2022|2022|2022|2021|
||||E|E||
|Donations||3,700||3,700|2,370|
|Government|grants||||106,505|
|TOTAL 2022||3,700||3,700|108,875|
|TOTAL 2021||65,552|43,323|108,875||
##
##
##
##
|||||||Activities||||
|---|---|---|---|---|---|---|---|---|---|
|||||||undertaken|Support|Total|Total|
|||||||directly|costs|funds|funds|
|||||||2022|2022|2022|2021|
||||||||||E|
||The Devon|County Show||||922,389|774,910|1,697,299|1,475,349|
||Total 2021|||||686,187|789,162|1,475,349||
||ANALYSIS|OF SUPPORT|||COSTS|||||
||The Devon|County Show||||||||
|||||||||Total|Total|
|||||||||funds|funds|
|||||||||2022|2021|
||||||||||F|
||Staff costs|||||||220,372|267,783|
||Depreciation|||||||201,856|213,038|
||General
showground||overheads|||||193,318|173,409|
||Association|overheads||||||131,948|116,318|
||Interest payable|||||||20,750|11,506|
||Governance|||||||6,666|7,108|
|||||||||774,910|789,162|
|7.|NET INCOME/(EXPENDITURE)|||||||||
||This is stated|after charging:||||||||
|||||||||2022|2021|
||||||||||E|
||Depreciation|oftangible||fixed assets:||||||
||-owned
by|the charitable|||group|||201,856|213,038|
||Auditors'
remuneration|||- audit ofAssociation||||6,325|5,750|
||Auditors'
remuneration|||-audit of subsidiary||||4,375|3,975|
||Auditors'
remuneration|||-other financial services||for the Association||1,230||
##
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##
|||||Group|Group|Association|Association|
|---|---|---|---|---|---|---|---|
|||||2022
F|2021|2022f|2021
E|
|Wages and|salaries|||432,384|357,953|353,496|298,861|
|Social security costs||||39,145|38,665|33,8'TS|31,304|
|Contribution|to defined|contribution|pension|||||
|schemes||||10,686|9,831|9,501|8,363|
|||||482,215|406,449|396,875|338,528|
|Group|Group|
|---|---|
|2022|2021|
|No.|No.|
|15|14|
##
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##
||Freehold|Plant and|Fixtures and||
|---|---|---|---|---|
||property|machinery|fittings|Total|
||E|E|F|E|
|COST OR VALUATION|||||
|At 1 October 2021|7,432,826|940,851|203,181|8,576,858|
|Additions|18,722|65,160|10,884|94,766|
|At 30 September 2022|7,451,548|1,006,011|214,065|8,671,624|
|DEPRECIATION|||||
|At 1 October 2021|4,334,744|858,208|131,895|5,324,847|
|Charge for the year|124,889|61,487|15,480|201,856|
|At 30 September 2022|4,459,633|919,695|147,375|5,526,703|
|NET BOOK VALUE|||||
|At 30September 2022|2,991,915|86,316|66,690|3,144,921|
|At 30September 2021|3,098,082|82,643|71,286|3,252,011|
##
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||E|F|
|Turnover||||886,431|709,230|
|Cost ofsales||||(223,300)|(205,590)|
|Gross profit||||663,131|503,640|
|Administrative|expenses|||(93,324)|(75,386)|
|Other operating|income||||4,001|
|Net profit before recharges||from the Association||569,807|432,255|
|Rent, overheads
and other||costs recharged|by the Association|(337,750)|(278,985)|
|Profit for the financial year||||232,057|153,270|
|Balance Sheet|at 30September 2022|||||
|||||2022|2021|
||||||F|
|Assets||||409,448|360,999|
|Liabilities||||(171,293)|(201,631)|
|Net Assets||||238,155|159,368|
##
|||Group|Group|Association|Association|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
||||F|||
|DUE WITHIN|ONE YEAR|||||
|Trade debtors||131,760|114,708|22,322|6,945|
|Other debtors|||28,076|11,046|51,353|
|Prepayments|and accrued income|83,246|61,321|73,927|43,414|
|||215,006|204,105|107,295|101,712|
##
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##
||||Group|Group|Association|Association|
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
||||F|E|E|E|
|Bank loans|||167,399|156,286|167,399|156,286|
|Trade creditors|||78,108|94,341|67,119|62,305|
|Amounts
owed|to group undertakings||||290,406|233,463|
|VAT payable|||27,501||||
|Other taxation|and social security||10,633|7,269|9,590|7,269|
|Other creditors|||5,374|16,252|5,374|16,252|
|Accruals and deferred||income|171,962|223,072|51,248|78,622|
||||460,977|497,220|591,136|554,197|
##
|||Group|Group|Association|Association|
|---|---|---|---|---|---|
|||2022f|2021|2022|2021|
|Bank|loans|609,026|757,341|609,026|757,341|
||Group|Group|Association|Association|
|---|---|---|---|---|
||2022f|2021
E|2022
f.|2021
E|
|BETWEEN ONE AND TWO YEARS|||||
|Bank loans|167,399|164,619|167,399|164,619|
|BETWEEN TWO AND FIVE YEARS|||||
|Bank loans|441,627|473,066|441,627|473,066|
|OVER FIVE YEARS|||||
|Bank loans||119,656||119,656|
##
##
|||||||Balance at|
|---|---|---|---|---|---|---|
||||Balance at 1|||30|
||||October|||September|
||||2021|Income
f|Expenditure|2022f|
|UNRESTRICTED FUNDS|||||||
|Unrestricted||funds|3,044,332|2,271,529|(2,010,790)|3,305,071|
|RESTRICTED FUNDS|||||||
|Farmwise|||6,113|3,700|(3,133)|6,680|
|Farmwise|trailer||5,500|||5,500|
||||11,613|3,700|(3,133)|12,180|
|Total of|funds||3,055,945|2,275,229|(2,013,923)|3,317,251|
##
##
##
##
||||||Balance at|
|---|---|---|---|---|---|
|||Balance at|||30|
|||1 October|||September|
|||2020|Income|Expenditure|2021|
|||E|||F|
|UNRESTRICTED FUNDS||||||
|Unrestricted|funds|2,753,616|1,983,751|(1,693,035)|3,044,332|
|RESTRICTED FUNDS||||||
|Farmwise||6,113|||6,113|
|Farmwise
trailer||5,500|||5,500|
|Government|grants||63,290|(63,290)||
|||11,613|63,290|(63,290)|11,613|
|TOTAL OF|FUNDS|2,765,229|2,047,041|(1,756,325)|3,055,945|
##
|ANALY|SIS O|F NET ASSETS BETWEEN FUNDS|-CURRENT YEAR|||
|---|---|---|---|---|---|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2022|2022|2022|
||||E|F|E|
|Tangible|fixed|assets||3,144,921|3,144,921|
|Current|assets||12,180|1,230,153|1,242,333|
|Creditors|due|within one year||(460,977)|(460,977)|
|Creditors|due|in more than one year||(609,026)|(609,026)|
|TOTAL|||12,180|3,305,071|3,317,251|
##
||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021|2021|2021|
||||E|E|F|
|Tangible|fixed|assets||3,252,011|3,252,011|
|Current|assets||11,613|1,046,882|1,058,495|
|Creditors|due|within one year||(497,220)|(497,220)|
|Creditors|due|in more than one year||(757,341)|(757,341)|
||||11,613|3,044,332|3,055,945|
##
##
|||||||Group|Group|
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||E|E|
|Net income|for the|year (as per Statement||of Financial|Activities)|261,306|290,716|
|Adjustment|for:|||||||
|Depreciation|charges|||||201,856|213,038|
|Decrease/(increase)||in debtors||||(32,993)|35,405|
|Decrease
in|creditors|||||(25,264)|(201,838)|
|Net cash provided||by operating|activities|||404,905|337,321|
##
||||Group|Group|
|---|---|---|---|---|
||||2022|2021|
||||E||
|Cash|in|hand|1,027,327|854,390|
|Total|||1,027,327|854,390|
##
##
||||At 1||At 30|
|---|---|---|---|---|---|
||||October||September|
||||2021|Cash flows|2022|
||||F||F|
|Cash|at bank and|in hand|854,390|172,937|1,027,327|
|Bank|loans due within
1 year||(156,286)|(11,113)|(167,399)|
|Bank|loans due over 1 year||(757,341)|148,315|(609,026)|
||||(59,237)|310,139|250,902|
##
|||||Group|Group|Association|Association|
|---|---|---|---|---|---|---|---|
|||||2022|2021|2022|2021|
|||||F|F|F||
|Contracted|for but not provided||in these|||||
|financial statements||||||||
|Acquisition|oftangible|fixed assets||4,197|19,200|4,197|19,200|
##
##
|payments|und|er non-cancellable
operating
lease|s as follows:||
||
|---|---|---|---|---|---|---|
||||Group|Group|Association|Association|
||||2022|2021|2022|2021|
||||F|F|E|F|
|Not later than||1 year|8,157|8,157|8,157|8,157|
|Later than|1 year and not later than 5 years||7,612|15,768|7,612|15,768|
||||15,769|23,925|15,769|23,925|
##
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|||||||Group|Group|Association|Association|
|---|---|---|---|---|---|---|---|---|---|
|||||||2022|2021|2022|2021|
|||||||F|F||F|
|Financial|assets|measured|at|amortised|costs|1,027,327|854,390|1,027,042|854,390|